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Social Media ROI from ROA - AICPA FVS Conference


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How can CPAs use social media to build their practices? Become thought leaders? Engage customers and employees? Tom Hood, CPA,CITP,CGMA shares his experiences as one of the top social media leaders in the CPA Profession since he started with his blog in 2006. He updates us with real stories of CPAs and adds the latest research on social media. He also highlights more resources to get you started, including e-learning, and on-site training available from the Business Learning Institute (BLI).

This presentation was made for the AICPA FVS (Forensic & Valuation Services Conference in Orlando).

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Social Media ROI from ROA - AICPA FVS Conference

  1. Ge#ng  an  ROI  from  Social  Media   via  ROA  (Return  on  A:en;on)   AICPA  Forensic  &  Valua;ons  Conference   Orlando,  FL   November  13,  2012     Tom  Hood,  CPA.CITP.CGMA   CEO   Maryland  Associa;on  of  CPAs   Business  Learning  Ins;tute  
  2. “Unconference”  •  The  next  9  slides  (pages)  are  from  the  “unconference”  por;on  of   this  session.  Tools  used  were  audience   par;cipa;on  systems,  twi:er  (hashtag  #AICPAFVC),  and  i2a:   Insights  to  Go  worksheet  (h:p://  •  Par;cipants  were  given  ;me  to  reflect  and  record  insights  and   work  on  an  immediate  ac;on  plan  to  take  their  learning  back   home.  
  4. Respond to a Poll Ask a Question Vote up a Question
  5. “Leadership  is  the  ability   to  gain  insights  and  the   ap;tude  to  turn  them  into   ac;on.  Insight  without   ac;on  is  either  useless  or   destruc;ve.”       –  Tom  Hood  &  Gretchen  Pisano   developers  of  i2a:Insights  to  Ac;on   Strategic  Thinking  System  h:p://    
  6. Download  today’s  slides  at  …  
  7. ROI?  
  8. Source:  Brian  Solis  author  of  The  End  of  Business  as  Usual  
  9. Are  you  ready  for  the  Zombie   Apocalypse?  
  10. ROA!  Or  will  you  s;ll  be  in  business  in  three  (3)  years?  
  11. The  DEAD  trends  •  Demographic  trend  which  will  make   your  experience  irrelevant  •  Experience  trend  which  will  make  your   knowledge  obsolete  &  irrelevant  •  A:en;on  trend  which  will  make  your   efforts  irrelevant  • Democra;c  trend  which  will  make  your   power  irrelevant   Source:  Emmanuel  Gobillot  author  of  Leadershie  
  12. Five  Things  Every  Professional  Needs   to  be  Good  At   1.  Learning  and  staying  on  the  cu#ng  edge.   2.  Managing  your  career  (yep,  you  have  to   take  charge  of  your  own  career).   3.  Doing  the  work  (research,  produc;vity,   communica;on).   4.  Interac;ng  with  your  peers  and   colleagues.   5.  Becoming  a  thought  leader  in  your  field.       -­‐  Allen  Blue  co-­‐founder  Linked-­‐In   h:p://  
  13. Bill Tom MACPA s Journey
  14. MACPA’s Social Media Map131,370 views 1,907 connections 450 connections80,568 views 4,496 followers 450 members Top Accounting Blogs – 2009, 2010, 2011 Top 50 Business Blogs - 2011 34
  15. The  Tools   “Use  the  tools,  don’t   let  the  tools  use  you!”        –  Francine  McKenna      
  16. Accoun4ng  Firm  Use  of  Social  Media     CPA2Biz  2012  Technology  Survey  80      70     Firm Usage of Blogs and Twitter  60     each up 60% year-over-year  50      40     2011    30     2012    20      10      -­‐         LinkedIn   FaceBook   Twi:er   Blog   •  34% of CPAs surveyed are using tablets (iPads) for business purposes, and another 12% plan to soon •  According to recent Boomer study, this is as high as 57% for mid sized firms CPA2Biz, Inc. - Proprietary and Confidential Information
  17. Success  in  a  Connected  World  
  18. CPA  Success  –  our  Blog  
  20. Top  10  Tweeters  –  Accoun;ng  Today   @rfchambers  /  @theiia   @taxgirl   @gregkyte   @gabrielleluoma   @retheauditors   @jenniferwarawa  /  @sage   @evananerd   @ACFE   @IRSNews    
  23. Ten  things  to  know  about  Social  Media?  1.  Thought  Leadership  (Jody  Padar  example)  2.  Engagement  with  more  member/customers   and  shared  insights  (AICPA  Leadership  Academy)  3.  Real  Time  Focus  group  4.  Communica;on  and  connec;ng  your   organiza;on  (Marrio:  Story  &  MACPA  CFO  Conference)  5.  MACPA  uses  of  social  media  6.  The  Power  of  Blogging  7.  Case  Studies  (Connec;ng  to  Thought  Leaders,  Connec;ng  to   Members  –  Books,  MACPA  Beach  Retreat  &  NE  CPE  Conference)  8.  Top  Ten  (Social)  Learning  Technologies  9.  Risk  Management  10. It  is  bigger  than  you  think  –  Social  Business  
  24. Thought  Leadership  
  25. Social  Media  Engages  &  Shares  Insights   The  twi:er  stream  from  AICPA  Leadership  Academy   35
  26. Seth  Godin  and  Tom  Peters  on  blogging   h:p://    
  27. Social  Media  connects  us  to  thought  leaders  
  28. Real  Time  Focus  Group  Example  of  using  Twi:er  to  get  immediate  real  ;me  feedback  for  this  preso  
  29. Advice  for  today  
  30. The  Marrio:  Story  “Bill’s  blog  makes  me  feel  connected  to  the  organiza7on  in  a  way  I  had  not  felt  before.  I  feel  more  informed  and  closer  to  the  organiza7on  than  ever  before.”  –  from  a  Marrio:  Finance  Team  member  during  an  MACPA  Professional  Issues  update  at  their  HQ  in  Bethesda,  MD  ].   What  if  you  could  keep  your  organiza;on  informed  and  inspired   by  your  thoughts?  
  31. Three  authors  ReTweeted  this  blog  post  which  men;oned  their  books…   h:p://­‐top-­‐ten-­‐business-­‐books-­‐of-­‐2011.html    
  32. Case  Study  –  MACPA  Beach  Retreat  The  next  three  slides  show  the  way  you  can  use  social  media  to  engage  a  broader  audience  and  create  a  resource  for  par;cipants.      1.  Post  preso  on  2.  Embed  it  and  other   resources  and  links   in  your  blog  post  3.  Tweet  it  out  and  use   the  @name  of   people  men;oned  4.  Let  the  conversa;on   con;nue!  
  33. Follow  the  links   How  social  media  can  be  used  for  leadership  &   learning  •  Live  session  at  MACPA  Beach  Retreat  •  Video  interview  w/  Emmanuel  Gobillot,  author  of  Leadershie   h:p://  •  Post  preso  on  h:p://  •  Blog  post  about  Beach  Retreat  session  on     h:p://  •  Blog  sends  out  tweet  h:p://  men;ons  example  from   class  twi:er  handles  •  Tom  Peters  responds  h:p://  •  Emmanuel  Gobillot  responds  on  Twi:er  h:p://  •  And  on  w/  comment  h:p://  •  And  involved  Joe  Bou:e  h:p://  •  And  featured  by  Dr.  Steve  Hornik  (UCF  –  Accoun;ng)   h:p://  
  34. The  post  was  even  featured  in  an  accoun;ng  educator’s  “daily”  distributed  to  his  followers. Featured   our  blog   post  
  35. Social  Media  to  engage  &  connect  at   the  NE  CPE  conference  Another  example  of  using  social  media  to  engage  a  broader  audience.  In  this  case  I  used  twi:er  to  get  feedback  from  CPAs  about  the  use  of  social  media  in  learning.    It  also  informed  CPAs  about  the  NE  CPE  Conference  so  they  “heard”  that  we  were  working  hard  to  improve  the  learning  for  them.      The  followed  up  with  a  blog  post  about  the  event  and  got  more  engagement  with  comments  from  the  group.      
  36. Twi:er  during  the  event,  slideshare  &  blog  post-­‐event  
  37. Top  Ten  Learning  Technologies      1.  Twi:er  –  micro-­‐upda;ng  tool            2.  YouTube  –  video  hos;ng  and  sharing  tool            3.  GoogleDocs  –  online  collabora;on  tool            4.  Delicious  –  social  bookmarking  tool            5.  Slideshare  –  presenta;on  hos;ng  and  sharing  tool            6.  Skype  –  instant  messaging  and  VoIP  call  tool            7.  Google  Reader  –  RSS  feed  reader            8.  Wordpress  –  blogging  tool            9.  Facebook  –  social  networking  site  10.  Moodle  –  course  management  system     Social  Learning  is  quickly  emerging  as   a  major  use  of  social  media  and  a   way  to  engage  deeper  with  our   members  and  par;cipants.   Source:  
  38. Case  Studies   On  the  Cover  of  a  Magazine?  •  BCG  &  Company  –  blogs,  twi:er  •  Naden/Lean  –  blogs,  twi:er  •  James  Carroll  –  facebook,  twi:er  •  Morris  &  D’Angelo  
  39. Dental  CPAs  /  Naden-­‐Lean  
  40. Morris  &  D’Angelo  
  41. Risk  Management   Don’t  let  this  happen  to  you  This  is  the  biggest  fear  of  social  media.  You  can  mi;gate  this  fear  with  training  and  a  good  policy.      MACPA’s  social  media  policy  incorporates  the  Code  of  Ethics  of  the  CPA  Profession  and  our  State  Board  of  Accountancy  into  the  best  of  breed  policy  from  IBM.  On  the  next  slide.  
  42. h:p://    
  43. It’s  Bigger  Than  You  Think  –  Social   Organiza;ons  From:                To:  Hierarchy            Network  Command  &  Control    Connect  &  Collaborate  Experience  Curve        Collabora;on  Curve  Lecturer              Facilitator  Push                Pull  
  44. Where  to  from  here?   “I  don’t  think  it’s   crazy  to  ask  if   your  CEO  is  the   next  Mubarak”    -­‐    Gary  Hamel  
  45. Are  you  a  social  business?  “A  Social  Business  isn’t  just  a  company  that  has  a  Facebook  page  and  a  TwiMer  account.  A  Social  Business  is  one  that  embraces  and  cul7vates  a  spirit  of  collabora7on  and  community  throughout  its  organiza7on—both  internally  and  externally.”   h:p://    
  46. You  have  3  years  at  most!   h:p://  •  Cloud  •  Mobile  •  Social  •  Value-­‐added  •  Collabora;ve  h:p://  
  47. The challenge is how to position our organizations for L > C “To keep pace in your L>C industry, let alone as aleader, requires your rate of LEARNING to begreater than, or equal to, the rate of CHANGE.”
  48. Why  you  should  care  about  Social   Media   “In-­‐forming  is  the  individual  persons   analog  to  open-­‐sourcing,  outsourcing,   insourcing,  supply-­‐chaining,  and   offshoring.  Informing  is  the  ability  to  build   and  supply  your  own  personal  supply   chain—a  supply  chain  of  informa4on,   knowledge,  and  entertainment.  In-­‐ forming  is  about  self-­‐collabora4on— becoming  your  own  self-­‐directed  and  self-­‐ empowered  researcher,  editor,  and   selector  of  entertainment.                –  Thomas  Friedman  
  49. Five  Ways  to  Get  started…  1.  Create  your  digital   footprint  (Linked-­‐In,  Facebook,   Google  +,  Twi:er,  blog)  2.  Start  listening  (use  google   reader  and  twi:er  to  start  listening)  3.  Make  friends  (build  your   network  and  follow  on  twi:er)  4.  Create  &  Share  (join  the   conversa;on  by  commen;ng,   Retwee;ng,  and  start  a  blog)  5.  Recognize  &   Reciprocate  (always  recognize   and  a:ribute  other’s  work)  
  50. If  you  need  help   Let  Bill  Sheridan,  Na;onal  Thought   Leader  and  architect  of  MACPA’s  award-­‐ winning  social  media  strategy,  be  your   trusted  guide  to  help  you  jump  start   your  social  media  exper;se.     In  seven  tele-­‐coaching  sessions,  Bill  will   guide  you  through  crea;ng  a  social   strategy  and  hands-­‐on  coaching  to  get   you  up  and  running  fast!   BLI  program:  Social  Media  Strategy  &   Quick  Start:  Developing  and   Implemen;ng  a  Social  Media  Strategy   for  CPA  Firms  &  Organiza;ons     h:p://    
  51. Start  Today!   “On  the  field  of  the  Self   stand  a  knight  and  a   dragon.  You  are  the  knight   and  Resistance  is  the   dragon”  –  Steven  Pressfield   Do  the  Work  
  52. Some  star;ng  points  •  Michelle  Golden  (Golden  Prac;ces;  h:p://goldenmarke;  •  Paul  Caron  (TaxProf;  h:p://  •  Caleb  Newquist  &  Adrienne  Gonzalez  (Going  Concern;  h:p://  •  Rick  Telberg  (CPA  Trendlines;  h:p://  •  Francine  McKenna  (re:  The  Auditors;  h:p://  •  David  Albrecht  (The  Summa;  h:p://  •  Tax  Policy  Center  (Tax  Vox;  h:p://  •  Tax  Founda;on  (Tax  Policy;  www.taxfounda;  /blog)  •  Tom  Hood  and  Bill  Sheridan  (CPA  Success;  •  Blumer  CPAs/THRIVEal  h:p://  •  Kelly  Phillips  Erb  Tax  Girl  h:p://  •  Tom  Selling  The  Accoun;ng  Onion  h:p://accoun;  •  Jody  Padar  -­‐  Accoun;ng  Tomorrow  h:p://www.accoun;  •  Jeff  Drew  –  Another71  (CPA  Exam  blog)  h:p://      
  53. More  Resources  CPA  Success  posts  about  social  media  h:p://­‐media/  Self-­‐directed  learning  guide  –  15  min  a  day  h:p://  Can  Social  Media  Help  You  Learn?  h:p://  Making  Social  Media  Work  for  You  h:p://;media/TomHood.htm  Social  Media  for  Learning  h:p://  Social  Media  for  CPAs  and  CEOs  –  interviews  &  stories  h:p://  How  to  Leverage  Social  Media  –  Journal  of  Accountancy  h:p://    
  54. Recommended  Reading   •  The  Corporate  Blogging  Book  by  Debbie   Weil   •  Crush-­‐It  by  Gary  Vaynerchuk   •  The  Whuffie  Factor  by  Tara  Hunt   •  Here  Comes  Everybody  by  Clay  Shirky   •  Social  Media  Strategies  for  Professionals   and  Their  Firms  by  Michelle  Golden   •  Switch:  How  to  Change  When  Change  is   Hard  –  Chip  &  Dan  Heath   •  Escaping  Velocity  by  Geoffrey  Moore  
  55. Follow  me  on:  Tom  Hood,  CPA.CITP   ü   Twi:er:  h:p://  CEO   ü   LinkedIn:  h:p://  Maryland  Associa4on  of  CPAs  Business  Learning  Ins4tute   ü   Facebook:  h:p://  (443)  632-­‐2301   ü Plaxo:  h:p://  E-­‐mail  Web  hWp://   ü Slideshare:  h:p://  Blog  hWp://   ü Youtube:  h:p://  Blog  hWp://     ü Second  Life  avatar  name:  Rocky  Maddaloni